I am in need of some leasehold conveyancing in Great Shelford. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Great Shelford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to complete next month on a basement flat in Great Shelford. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Great Shelford should include some of the following:

• Will you be prohibited or prevented from having pets in the property?

My wife and I purchased a leasehold flat in Great Shelford. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Great Shelford who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Great Shelford conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in Great Shelford which have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Great Shelford is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Great Shelford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Completion in due on the disposal of our £475000 apartment in Great Shelford in just under a week. The managing agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Great Shelford?

Great Shelford conveyancing on leasehold flats often involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality one has little option but to pay whatever is requested of you if you want to sell the property.

I invested in buying a ground floor flat in Great Shelford, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Great Shelford with an extended lease are worth £220,000. The ground rent is £55 levied per year. The lease ends on 21st October 2085

You have 60 years unexpired the likely cost is going to span between £25,700 and £29,600 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Great Shelford